The main objective of this high-level Conference was to bring together senior staff of SEACEN member central banks to discuss the future role of the central bank in supporting adjustments in the growth strategy for Asia in response to lessons from the GFC. The discussions were fruitful and the consensus appears to be to strengthen the traditional role of the central bank, to give greater prominence to macroprudential measures in their financial stability remit, and to facilitate new growth areas through financial inclusiveness and support for small and medium scale enterprises (SMEs).
This publication is a collection of the papers cum notes prepared for and included here as Proceedings of the High-Level Conference on “Finding Asia’s New Sustainable Growth Model Post Global Financial Crisis (GFC): The Role of the Central Banks” held at Sasana Kijang, Bank Negara Malaysia, Kuala Lumpur, Malaysia, from 6-8 November 2012. The High-Level Conference was an outreach of the signature SEACEN research project for OP2012 to provide a forum for discussions on policy challenges faced by central banks in promoting sustainable economic growth and providing an environment conducive for financial, monetary and economic stability in the aftermath of the global financial crisis.
SESSION 1: LESSONS FROM THE GLOBAL FINANCIAL CRISIS FOR CENTRAL BANKS – ARE THERE IMPLICATIONS FOR A NEW ASIAN GROWTH MODEL?
By: Aaron Mahotra
SESSION 2: BANK CREDIT DEVELOPMENTS IN SEACEN AND OTHER ASIAN ECONOMIES
By: Lee Chee Sung
SESSION 3: GLOBALIZED BANKING SECTORS: FEATURES AND POLICY IMPLICATIONS AMIDST GLOBAL UNCERTAINTIES
By: Reza Y. Siregar
SESSION 4: ROLE OF CENTRAL BANKS IN SUPPORTING GROWTH IN A LOW GROWTH ENVIRONMENT
By: Sukhdave Singh
SESSION 5: PROSPECTS FOR ASIA’S LONG TERM ECONOMIC DEVELOPMENT: WHAT ROLE FOR CENTRAL BANKS?
By: Giovanni Capannelli and Kensuke Yanagida
SESSION 6: THE FUTURE OF CENTRAL BANKING: HOW RADICAL IS THE ONGOING REFORM AGENDA
By: Johnny Noe E. Ravalo
SESSION 7A: PANEL DISCUSSION: THE ROLE OF CENTRAL BANK IN NEW SUSTAINABLE GROWTH MODEL: BANK INDONESIA’S PERSPECTIVES
By: Solikin M. Juhro
SESSION 7B: PANEL DISCUSSION: STRUCTURAL PROBLEMS OF THE KOREAN ECONOMY AND ITS ECONOMIC POLICY DIRECTIONS
By: Park. Yang Su
SESSION 7C: PANEL DISCUSSION: THE ROLE OF CENTRAL BANKS IN NEW SUSTAINABLE GROWTH MODEL: THE PHILIPPINE CASE
By: Evelyn R. Santos
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